CompactGTL to build Kazakhstan commercial plant
CompactGTL announced Monday that its chairman Tony Hayward and Uzakbay Karabalin, the oil and gas minister of the Republic of Kazakhstan, have agreed to develop and implement gas processing technologies to build the worlds first commercially-deployed small-scale GTL plant.
In furtherance of the agreement, signed at the London Stock Exchange during the Caspian Corridor Conference, CompactGTL intends to build the worlds first commercially deployed small-scale gas-to-liquids (GTL) plant in Kazakhstan.
The proposed plant is expected to bring with it significant future commercial and environmental benefits, according to project officials. Up to 820,000 cubic meters of associated gas that might otherwise be wasted will be fed through the plant every day to produce approximately 3,000 bpd of synthetic diesel.
In a year, the plant is expected to monetize over 300 million cubic meters of gas.
The new GTL plant will enable Kazakhstan to create a local high technology industry that processes associated gas to produce fuels for local consumption, according to government officials.
CompactGTL, together with investors from Kazakhstan, have agreed to finance, design and build the up to 3,000 bpd GTL plant, using CompactGTLs proven technology and plant design.
"This is a significant step forward, not just for CompactGTL, but also for the small-scale gas-to-liquids industry," said Hayward. "Kazakhstan has clearly identified the significant economic benefits a small scale GTL plant can bring."
CompactGTL says it expects to have the fully-functioning small-scale GTL plant in operation in 2017.
It is expected that initial engineering will take approximately 12 months, followed by a construction period of around two years, highlighting the relative speed with which such a project can be delivered.
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